CA > Costa Mesa
Costa Mesa, CA 92627,1711 Pomona Avenue
Costa Mesa, CA 92627,1711 Pomona Avenue
Costa Mesa, CA 92627,1711 Pomona Avenue
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Paul Ward

Paul Ward

Keller Williams

+1(805) 479-5004
Listed by Michael Cavner • Marcus & Millichap RE Invest
$5,900,000
Est. payment /mo
0.46 Acres Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID OC-25011715

Lot Size 0.460 Acres

Property Description

The 1711-1719 Pomona Avenue project offers a strategic development and investment opportunity in Costa Mesa, located at the corner of Pomona Avenue and 17th Street. With final tract map approval expected in 8-10 weeks and permit-ready status anticipated by April/May 2025, this site provides a clear and efficient path to construction. Positioned directly across from the 17 West live/work community, the project is in a rapidly developing corridor with increasing demand for well-designed residential units. This 8-unit townhome development features three-bedroom, 2.5-bath homes, each with private decks, dedicated office spaces, and premium garage configurations. Unit sizes range from 2,076 to 2,084 sq. ft., offering spacious and modern living environments tailored to today's buyers. The financial outlook reflects solid revenue potential, with a projected total of approximately $14.92 million. Each unit is expected to sell for $1,865,000, averaging $897 per square foot, which aligns with the area's competitive pricing. Development costs are estimated at $11.47 million, including $3.83 million in direct construction costs, with an anticipated net profit of $3.45 million, resulting in a 30.1% margin over two years. Beyond strong financials, the location and market conditions enhance this investment's appeal. The site is within walking distance to retail, dining, and professional services, with easy access to major transportation routes connecting Costa Mesa to key areas in Orange County and Los Angeles. With approvals progressing and a structured development timeline in place, 1711-1719 Pomona Avenue offers a well-positioned investment in a market with rising demand. Investors will benefit from an efficient project plan, strong buyer interest, and an opportunity for a well-timed exit.

Location

State CA

County Orange

Zoning MG

Exterior

Community Features Curbs, Gutters, Sidewalks

View Y/N Yes

Building

Lot Description Level with Street

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agent

Paul Ward

+1(805) 479-5004

Broker Associate | License ID: 01354001

Broker Associate License ID: 01354001

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